IPO: Newgen Software Technologies Limited
Company & Business Profile
Newgen Software Technologies is Delhi-based software product company. Newgen offers product and platform that enables organizations to rapidly develop powerful software applications. Company mainly offers products in ECM and BPM space. Company sells its products through direct sales and through its 300 strong channel partners globally.
Newgen Software has four patents registered in India and 27 outstanding patent applications in India and one outstanding patent application in the USA. Newgen has over 450 active customers in over 60 countries. These customers are served by over 265 employees.
Objects of the Issue
The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders.
Offer for Sale: The Offer includes an Offer for Sale of 13,453,932 equity shares by the selling shareholders. Company will not receive any proceeds from the Offer for Sale by the selling shareholders.
Fresh Issue: The objects for which the net proceeds of the Fresh Issue will be utilized are as:
a. Purchase and furnishing of office premises near Noida-Greater Noida Expressway, Uttar Pradesh; and
b. General corporate purposes
Listing:
The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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